Jack Mallers vs The World
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- Опубліковано 21 жов 2024
- In this interview, I talk to Zap CEO Jack Mallers. We discuss the newly launched Strike Global, revolutionising global payments, neobanking with Bitcoin and helping to bank the unbanked in 3rd world countries.
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****
“We have banked the unbanked. We have given them free and instant international money transfers, we have provided them financial services that have had gatekeepers for hundreds of years.”
- Jack Mallers
Location: Remotely
Date: Tuesday 5th January
Company: Zap
Role: CEO
This week Jack Mallers announced the launch of Strike Global, a Bitcoin neobank that uses the Bitcoin network and lightning to facilitate the sending of money anywhere in the world, in a matter of seconds, for free.
The speed and cost of payments have often been a topic of debate in Bitcoin. While the basechain is necessarily slow, the Lightning Network promises to provide instant and low-cost bitcoin transfers.
With Strike, Jack Mallers is taking this to the next level allowing users to settle in fiat currencies across the Bitcoin network. Fast and no cost transfers of fiat currencies solve problems across the world, especially in third-world countries. Strike aims to run a pilot in El Salvador to prove this.
Strike has also enabled Caroline Panthers Offensive Tackle; Russell Okung to become the first NFL player to be paid in bitcoin, half of his $13 million salary.
In this interview, I talk to Zap CEO Jack Mallers. We discuss the newly launched Strike Global, revolutionising global payments, neobanking with Bitcoin and helping to bank the unbanked in 3rd world countries.
With guys like this on our side, how can we lose? ✊✊✊
we can't
Until new currencies come in and challenge the Bitcoin monopoly.
@@achaudhari101 they will fail, just like all the others before them
@@UnderstandingBitcoin Until your currency eventually runs out.
@@achaudhari101 The crypto war is over. Bitcoin has already won.
I wish I could give this video 1000 Likes 👍🏼👍🏼👍🏼👍🏼👍🏼👍🏼👍🏼👍🏼👍🏼👍🏼👍🏼👍🏼 Jack Maller is a major HERO of this age. Bravo!!! 👏🏼
Before Jack leaves for El Salvador, he should find a regular guy sending US dollars home and do a mini documentary about the experience. Go find the guys family, set them up with the Strike App and walk them through a day of use.
SERIOUSLY good idea! A filmmaker in BTC Should MAKE this HAPPEN! Jer
You’re looking at your next billionaire right here; today. This guy is the future
He's already billionaire (with BTC)... He just have to wait a few years..
aim higher....Billionaire is too low. He will be the first Trillionaire.
Fuck that was brilliant. I've never been so hyped
My mind is blown dude. This brotha is sharp as a tack!
What a whole bunch of brain power in such a young, compact package. And he is using his abilities to the fullest. Respect.
Brain exploding! What a contribution to humanity. Thank you, Jack.
Jack, you are sending chills down my spine!!!!
Fantastic ! The ease of use of the strike app is exactly what we need to onboard MUCH more people on the bitcoin network. Initially they will make payments with fiat and it will simply work. No need to learn about bitcoin and LN, all that work is done for you by the app in the background. And then it's only a small step for those millions, if not billions of users to decide to save some of their wealth in bitcoin. This is going to be THE game changer. Mind blown.
What a MONSTER show, best thing I've listened to anywhere, so far this year. Thanks.
Thank god for boys like Jack- with these kids doing stuff like this, the future looks pukka! Total opposite of the negativity that the MSM keep forcing upon us- so glad he gives no fucks ❤️
Amazing. Watching this after the El Salvador Bitcoin news.... great work Jack and Peter. 💪💪❤️👍👍
This guy's a fucking animal. What an incredible platform. Blew my mind.
Love the channel and love learning all about this kid. What he has developed and achieved is remarkable, bravo guys.
Hey here we have a real Human being ..... May the Tribe grow !!!!🙏😊🙏
Thank you for what you're doing Jack! You are invaluable to the bitcoin revolution!
Thanks for the comment learn more from my team broker 👇👇
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W'sapp
Thank you!
So impressed by you man I am buying ZAP every chance I get. People like you are the now and future. I started buying crypto originally because the banks utterly screw the little guy. Hold our cash and make money off it, pay almost no interest and hit us with charges for profiting from our hard work (go figure!). Banking your cash is dead money with no return. Be smart and take control of your own cash to take control of your future. Thanks Jack, watched 3 of your youtube talks to get a handle on what/who I am banking on. Brilliant stuff!
I don’t know why physical currency needs to be erased exactly. The dude practically donated Bitcoin to BLM.
I'm so late to this, but in reality...it's just beginning.
Loved the way he wrapped this up, very self aware
Jack Mallers is the future.
He is Neo in the Matrix.
Seeing (and explaining) the world in ways so few ever could.
Mind blowing, mind blowing!
Thanks guys - let's make it happen - “If you don’t believe it or don’t get it, I don’t have the time to try to convince you, sorry.” -- Satoshi Nakamoto
Absolute legend. God bless him.
My man. Jack is keeping it 💯 and real
Epic interview
Good to view this now in retrospect... geez just 5 months ago!
Jack Mallers saves the world...
Showed this to a guy who’s almost 50 and he loves this guy Jack! The hoodie and hat and attitude is fantastic. This is the new “suits” and so much gusto and fight and spirit. Take on Visa and MasterCard and western union and money gram and all those rip-off money transfer companies. Go Jack Go!
I don’t know if wanting suits sent to a Gulag or being a supporter of any type of fiat currency to where they deserve to be ridiculed Dis a good strategy. Seriously why do Bitcoiners have to be assholes to people who use regular money?
@@achaudhari101 if you watched the video, this is about disrupting the money transfer business (for now). Given the choice of free, almost-at-spot-rate, instant money transfer VS high commission, hours-to-days to receive money....which would you prefer? If you prefer paying more and waiting for the money....then we know who the asshole is.
@@mikesmith8074 I don't trust the idea of Bitcoin being the only form of money for people to use from now on when one, not everyone will be experts on it (Doesn't mean they deserve to stay poor unless you want to go the China route of ridicule), and two, when it's finite money. There should be a mix of both. Besides the guy donated Bitcoin to BLM so he's a problem in my eyes already.
@@achaudhari101 Bitcoin is not going to be a form of money for the public around the world for a long time, if at all. It is a store of wealth. That it is finite makes it even more valuable than gold...that's the whole point in why it is better than gold. But coming back to money....paper money (fiat money) is being devalued every day. In the US, Canada, Europe, Latin America and Asia, basics likes grocery bills, oil for cooking (south asia), rice, going to restaurants, gas is going up already. This is the problem of fiat money when the central govt can print as much money as they want.
@@mikesmith8074 At least gold is a good substitute that can be infinite as space is an option to mine gold. With Bitcoin, you have like 2 million left to mine, after that, it's done and over. I've seen accounts on Twitter that treat it like it will solve all the problems of the West or how one said to treat bitcoin as a way to put in all your hatred towards fiat money into it.
This Dude kicks ASS! PASSION! Brains!! Would love to be on his rocket ship!!!
Does anyone know how they’re making spreads on these transactions/settlements? He dodged the profit question quick. Very curious...
I'm skeptical about this whole thing.
they have multiple revenue streams, one of the bigger ones is merchant services. they also trade their retail order flows like robinhood and they make money from their partnership with visa and the strike card
I LOVE YOU JACK!
No such thing as a free lunch. Curious to know the business model.
Of course not but lightning is the closest thing to a free lunch. Currency arbitrage opportunities is probably one.
Seems like he's taking the Facebook/Google/Twitter approach to business development: 1.) Laser focus on solving user problems and achieving network effects 2.) Find out how to cashflow it later
I'm curious how "favorable" these terms Jack mentioned that Strike is getting from the counterparties... is it really free exchange fees? Or is Strike subsidizing it as well? Is lightning really just sending monetary information for the cost of electricity?! Unreal Tech.
My guess is the exchanges like Bittrex would willing to treat Strike like a pass through for now for strategic business development reasons (co-mingling user bases = cross marketing opportunities and future partner products).
They'll get more volume on their order books from Strike traffic. They also get a stronger macro-moat around "Bitcoin - the asset class". With Strike, bitcoin/lightning now has remittance transfers, on top of the store of value use case. This makes users more likely to dive into Bitcoin on the spot markets, which is what the exchanges really profit from.
Remember when bitcoin was a thing of you don’t need a bank then all of a sudden people like this come along and say you need these companies to hold your bitcoin for cheap transaction.
@@thomasowen1720 The difference is optionality. You now have the option to have a bank custody it and if you don't, there are tons of non-custodial wallets that you can use for yourself.
@@bisiriyutajudeen5728 what is the point of bitcoin then???
Hopefully Jack and Strike can help reverse some of the generation damage that US imperialist foreign policy has inflicted on places like El Salvador. Good for him!
So that means devaluing the dollar to death therefore making me and everyone else poor?
The young are changing the world💞
Lols BTC 32.6$? We have been at 42 and are at 39k right now..just amazing, what a week delay does in BTC. Love you both - thanks so much for all you do!😍
When is the Tether CTO interview going to be released? Did that interview happen?
Great episode again!
Why hasn't this been viewed 20,000,000X?? I am humbled... Mallers is lightyears ahead.
I am so hyped for this technology.
Why does this channel only have 31K subscribers?
Damn that’s such a good point about PayPal
So how is Jack Maller's company making money on this service?
they have multiple revenue streams, one of the bigger ones is merchant services. they also trade their retail order flows like robinhood and they make money from their partnership with visa and the strike card
Hello, I would like to use this service to receive money from the U.S. to Chile. Does anyone have any links they recommend to learn more about how to use this service from the U.S. to Chile? (US dollars to Chilean pesos). Thanks in advance.
Bravo in ever way
This is huge! What we've been waiting for to get the mainstream adoption really take off. Even Roger Ver would be proud of what Jack is doing for Bitcoin. Thanks for a great convo!
Exceptional interview! I think open source and decentralization are key macro (Fourth Turning) themes. So much opportunity for individuals to use Strike for microeconomic charity by sharing a small amount of their wealth to invest in the lives of the poor around the world. Terrific that Lightning is getting a KILLER APP!
39:37 Jack is on fire!
He’s chilling in a giant empty closet tearing down existing payment rails and galloping into the future while wearing a bass pro shop hat; quite a combo
How can we invest in STRIKE
how do you invest in Zap?!
Brilliant!!! Love it
Hi just wondering if there is any exchange fee? From usd to btc and back to euro?
Thanks for the comment learn more from my team broker 👇👇
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W'sapp
Future is brightly open.
I'm from the future. This guy is fucking BADASS!
This man will be world famous in the next five years
How does strike make money?
Thanks
Game changer
How do you invest in the project?
🤩🤩🤩🤩🤩🤩🤩🤩👍👍👍👍. DOWN TO EARTH GUY. STAY THAT WAY. GOOD LUCK
How safe are "Tethers"?
Only 10k views and 1k likes after 1 months?! Wake up ! This is huge !
Also notice the logo is a middle finger !
Best quote from the host: “I think he (Jack Dorsey) is going to want to speak to you at some point.”
Amazing...
It's a LOT more complicated than Jack's making it out to be. Feels like he's glossing over the myriad critical details to truly bank the unbanked. Here are just a few:
1. People with no access to electricity, internet, and smart phones. These are the billions who are unbanked. People in Africa and Eastern Europe, for example, who use 1st generation mobile phones with text and M-Pesa to transfer money already, what's their incentive to upgrade their phones when they already have a mobile payment solution, besides the "FREE" narrative?
2. A massive assumption on being able to cash out in local currency with bitcoin. Who is providing all of these bitcoin fiat currency pair exchanges? Certainly not just Bittrex. Assuming that Strike forms relationships with all current exchanges to provide btc/fiat pairs for most national currencies. Then, the same gangsters who hang out at Western Union to take a cut of the remittance fees aren't smart enough to start hanging out at these cash withdrawal bitcoin ATMS? How widespread are these ATMs across these countries, and what's the incentive for local governments to install them? Going back to point 1 above, how are people going to spent their crypto fiat, even if denominated in local currencies, on goods and services, when the goods and service provider also don't have basic infrastructure?
3. China. The largest economy in the world by purchasing power parity. VERY restricted monetary policy, cryptocurrencies are heavily monitored. Definitely no ATMs. Assuming I can receive digital RMB Yuan stablecoins in my Strike app, how do I spend it? How do I cash it out? Can I send it to my WeChat or Alipay?
This kid is brilliant, for sure. But using the same El Salvador story as his token "banking the unbanked" story is too weak to convince anybody who's traveled and lived in developing countries. Also, a question that many have posed, what's the catch? Nothing is FREE.
Lighting. Please listen to Samson Mow Dec 27 podcast. His app doesn’t solve the transfer of fiat on a mass basis. It’s good, but not the killer App. Much love. Let’s try to level up more BTC.
He's talking as if he invented warm water while this is basically what Ripple and the XRPL do. And the exchange could even happen on the built-in XRPL ledger exchange, without lightning, ... I'm a BTC bull but it's ridiculous how XRP is constantly being bashed and they do basically the same. "FUKK the banks" and then Strike just uses the same financial institutions and he's acting like people gonna steal his ideas :p What a joke.
@@PenguinWhispererThe Its the bitcoin network that is important. NO CENTRALIZED CONTROLLED MONEY. Your Ripple XRP is a shitcoin and it will go to zero.
@@planb6504when ripple/xrp does it: bad idea. when strike does the same idea: genius idea that nobody else thought about and people will steal my precious ideas :p how much more biased and extremist can you get?
what samson mow podcast
@@shanesmith7150 podcastnotes.org/crypto/the-investors-podcast-tip/samson-mow-preston-pysh-bitcoin/
The world will be a much better place due to people like Jack Mallers
So how does Lightning take down the Amex network if Amex is adding value to the user by extending credit?
Does Zap have anything to do with Strike? I don't quite understand the whole thing. Zap only has a 28 million market cap.
This is nuts if it works...
Deposited $500...account is frozen...thanks.
@@mattmcfly2165 are you from US? Strike is in beta and will be available in 200 countries within a month. Did you make a mistake on your info or banking info when signing up? Is the block on your banks end?
@@NSXTRA It's fixed, I can only figure my wife is primary on the account...I used another one.
What do you think about creating an institutional level payment network like swift on top of lightning? all payments will be processed via lightning and exchanged to fiat on banks, and they will use it instead of Swift for fast and cheap money transfer.
holy crap this is huge
How can I invest in this company?
Hey, how can I get a strke logo hoodie or tshirt?
Where can I get that hoodie?
I believe in this kid that goes by the name Jack Mallers. Go get them, son.
Dope sweatshirt Jack
is buying bitcoin on coinbase safe??
As strike grows, does it lock up more bitcoin in lightening channels?
The main issue I see is that there's no way to convert their virtual dollar into physical dollar at the bank, for merchants that might not be accepting it... unless I'm wrong.
its partnered with visa , the card will work with visa merchants. you would have to keep some money in cash for cash only merchants but you have to do that now anyway
Nice video! What about FBC fund and their algorithm review?
Sorry for my terrible English "FUCK THIS IS ASS KICKING TECHNOLOGY" I see the bankers running into the hills, they ain't coming back. Is that a white flag I see flying over the ridge?!
how does this compare to Diem coin?
Anyone else think they’ll gather a customer base and once it’s large enough charge fees?
The Chosen One.
When Strike token?
For what?
@@rene78 Its shitcoinism. Everybody literally hopes to buy the next bitcoin on a cheap price. Reality is there is only one protocol. :D
CAN I BUY BITCOIN ON STRIKE?
You did not tell us how you deal with bitcoin volatility,
.
Just treat Bitcoin as your savings account, only put money in that you don’t expect to use for 5 years. Then you’ll only enjoy the volatility to the upside.
I reeeeeeally reeeeeally hope this guy is paying some private security....
He does seem to be dancing around how the BTC actually moves. How does the guy in brittain that got BTC from the sender in America, puts that it into BTC ATM or british exchange and gets pounds. That is not zero cost.
This ages well....
This aged well
how can someone invest in his startup Zap. pumped.
Nobel Prize coming. The $1M prize money will be there instantly through the Lightning Network.
@@runguys4786 No, just difficulty putting you in hospital.
Jack better get full time security
They gonna kill him
Good interview, but I get a certain vibe from Jack. Didn't really like how he evaded how he makes his money on Strike.
What if there's no BTC atm????
Holy shit.
strike starts at 08:45